Bitcoin notched gains as global trade tensions triggered by US President Donald Trump’s tariff war eased — for now.

Bitcoin hovered at about $94,908 on Tuesday morning in London, tracking investor optimism about the global economy.

“Key moment: whether it’s going to kick on higher, or selling will resume” in risk assets, Neil Wilson, investor strategist Saxo Bank, said in an email to clients on Tuesday.

What does that mean for the price of Bitcoin? These five experts weigh in.

Arthur Hayes, Maelstrom

Arthur Hayes, chief investment officer at Maelstrom, outlines macro dynamics at play in his typical colourful fashion in a post on Wednesday:

“We as Bitcoin hodlers and crypto degen investors know that the bottom is in, because the next time Trump ramps up the tariff rhetoric or refuses to reduce tariffs on China, Bitcoin will rally in anticipation of the monetary mandarins running the money printing press at max Brrrrr levels to ensure bond market volatility remains muted.”

Hayes added: “Once Bitcoin breaches $110,000, the previous all-time high, it will likely surge, further increasing dominance. Maybe it just misses $200,000.”

John Glover, Ledn

John Glover, CIO at Bitcoin lending platform Ledn, shared that sentiment.

“The dialogue is starting to change, and people are recognising that Bitcoin is a safe place to put their money when other assets look shaky,” Glover told DL News.

“I expect that the price projections that I’ve been predicting for quite a long time now, will play out over the next six to 12 months, and we’ll see Bitcoin hit $136,000.”

Cosmo Jiang, Pantera Capital

Cosmo Jiang, general partner at Pantera Capital, one of the largest hedge funds and venture capital firms in crypto, offered a more nuanced outlook.

“This was a challenging quarter, with large macro forces clearly in the driver’s seat and causing a meaningful risk appetite pullback,” Jiang said in a blog post on Monday.

“The biggest overhang continues to be the uncertainty around tariffs and their impact on the global economy. The picture remains highly uncertain. However, these sentiment signals would also suggest that we are likely past the most aggressive selling point.”

After tariff-driven volatility eases, “investors will start to appreciate all the long-term positive tailwinds and strong fundamentals, and I still expect a strong year for digital assets,” he added. “As the tip of the spear in growth assets, crypto was the first to pull back, but also may be the first and fastest to rebound.”

London Crypto Club

“Flows are returning to Treasuries, but they’re also returning to crypto,” said David Brickell, head of international distribution at FRNT Financial, and former forex trader Chris Mills. They wrote the comments on Sunday in their “London Crypto Club” newsletter.

“Bitcoin has received a huge boost to its credibility, proving its safe-haven credentials,” they said. “Its relative outperformance over recent weeks will no doubt provide confidence to Treasury managers and investors about the downside risks and volatility of Bitcoin in broadly risk-off environments.

Bitcoin has proved it acts both as ”the ultimate hedge against the failure of existing economic and political structures” and as “the ultimate, high beta, risk on-asset.”

Geoff Kendrick, Standard Chartered

Geoff Kendrick, the head of digital assets research at UK bank Standard Chartered, told investors that he’s bullish in a note on Monday.

“I look for a fresh all-time high of $120,000 in the second quarter,” Kendrick wrote in a note on Monday. “Then, onto my $200,000 end-of-year forecast.”

There are numbers to back up the optimism. Kendrick said a confluence of factors will drive the gains, including accumulation by big buyers, or whales, and a rotation from gold to Bitcoin.

Email Trista Kelley at trista@dlnews.com.